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home / study / questions and answers / writing help / postwriting / rita and roger stanton have been married for fifteen ... Question Rita and Roger Stanton have been married for fifteen years. They have two children, Ronald, 12, and Rhonda, 8. They have a four-year-old Labrador mix dog named Ruff. The Stanton’s live in a four bedroom house on fifteen acres about twenty-five miles from the city. They have an attached two-car garage, two vehicles, a medium sized storage shed, a fenced in-ground swimming pool, and an all-terrain vehicle. They have a portion of their yard fenced off for Ruff. Rita is an administrative assistant for a large law office in the city. She drives twenty-two miles to and from work each day. She attends law school three nights a week and hopes to become an attorney and practice contract law. Roger is the principal at the local high school. He drives about four miles to and from work each day. He is also a full partner in a seasonal white water rafting business (Rowdy Rafters) with his brother Eddie. They are the only two full-time employees. Rowdy Rafters employs one part-time bookkeeper, Edna. Throughout the summer, Roger and Eddie take turns guiding rafting trips down a nearby river. Case Scenario: Roger has come to you, his trusted insurance agent for some advise. He doesn't understand what people mean by the term "loss exposure" and "ideally insurable loss". Help Roger by explaining the following:
1) Using the textbook information about loss exposures provided in the first chapter and your imagination, brainstorm and list as many (at least ten or more) of the property, liability, and personal/personnel loss exposures that you can think of existing in this case. BE CREATIVE.
2) Analyze if each of the exposures you have identified fits the criteria of an ideally insurable loss exposure. Be sure to explain to Roger why it does or does not.
Explanation / Answer
1) "loss exposure is a a type of loss or potential risk over there. Loss exposure came across with property exposure such as land, building, machinery ,car, jewellery,equipment etc, liability exposure it can be raised by legal responibility claimed by other person through via accident or injury. Personal/personnel loss exposures is any other financial loss met by the family such as death, retirement, injury, disability are considered to be personal/personnel loss exposure.
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2) Roger listen me, I am going to be explain each of the exposures have identified fits for pure, not for risk, not for speculative.
Insurance is protecting from loss, we can't considered the insurance is gain, it is coverage from the heavy loss, but certainly we have undergo one part of loss from it. AT the same time insurance is for meeting future uncertanity loss, loss would arise from accidently not to be prepared artifical accident for claiming the insurance , accident should be real. Accident should taken in some place and value should be calculated in monetary terms then only it is eligible for claim the insurance.
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